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Planned Giving

Planned giving is a creative solution to pursue your charitable and financial goals. As a benefit to such an act you may be eligble for significant tax savings. The greatest benefit though is knowing that you are supporting a cause that is important to you and the community. You generosity will impact the community and the future generations.

Ways to Give

Bequests in a will or trust

  • Giving a specific amount: Stating a dollar amount to be given through your will offers certainty as to the amount that will be used to charitable use.

  • Giving a percentage: If you are unsure at this time, what dollar gift to leave as a bequest, you may want to specify a particular percentage of the assets passing under your will to the Sumner-Bonney Lake Education Foundation. This way your charitable dispositions will automatically adjust along with the total value of property passing under the terms of your will.

  • All or part of “what’s left”: If you are not comfortable with the idea of leaving a specific amount or a percentage of your assets to charity, you might wish to provide for a gift from the residue, or ‘what’s left’, after providing adequately for your loved ones. In this manner, you can assure that others receive what you would like them to have before any assets are distributed for charitable use.

  • View Bequest language available. (LINK COMING SOON)


Gifts of life insurance and retirement plan assets

  • Although many people have excess life insurance, they do nothing about such obsolete insurance coverage. Ask yourself the following questions to determine whether a gift of life insurance could play a role in your charitable giving plans.

    • Do you have a policy on you life that was intended to protect a spouse that no longer needs it or a child who is now financially independent?

    • Do you have a policy purchased to complete payment of a mortgage that has since been paid in full?

    • Do you have a policy you bought to help provide retirement income? Have you since accumulated adequate amounts in your other retirement plans?

  • Check your life insurance policies. Compare your coverage with your present needs. Then consider how your life insurance may be used to help you meet your other goals.

  • Other retirement plan assets that can benefit the Sumner-Bonney Lake Education Foundation include mutual funds and retirement accounts. Simply contact the particular asset plan administration and request that the Sumner-Bonney Lake Education Foundation be named or added as a beneficiary.


Gifts of real estate, tangible personal property and assets

  • A gift of real estate allows you to take a tax deduction, avoid capital gains tax, and provide support for the Sumner-Bonney Lake Education Foundation. To qualify for tax benefits, you must own the property for at least 12 months before giving it to the Sumner-Bonney Lake Education Foundation. The gift may be an entire piece of property or an undivided fractional interest in it. Each proposed gift of real estate is evaluated on a case-by-case basis. The owner must obtain a qualified appraisal for tax purposes.

  • You may make a gift of real estate to the Sumner-Bonney Lake Education Foundation and still retain lifetime occupancy for yourself and/or another person. SBLEF does not take possession of the residence until after the lifetimes of the tenants you have named. However, you are eligible to receive an immediate income tax charitable deduction because the gift cannot be revoked. The amount of the deduction depends on the value of the property and your age (and the age of any other person given life use).


Gifts that provide a life time income for you or a beneficiary

  • A charitable remainder trust allows you to make a significant gift to the Sumner-Bonney Lake Education Foundation and receive income for life. When the trust ends, the assets remaining in the trust go to the Sumner-Bonney Lake Education Foundation. This type of gift offers a number benefits to a donor. Using this giving vehicle, you may be able to achieve one or more of the following goals:

    • Increased income from low-yielding assets.

    • Reduction of elimination of income, estate and gift taxes that could otherwise be due.

    • Diversification of investments and the potential for tax-free growth of assets.

    • Creation of a source of income for children, parents and/or other loved ones.

    • The enjoyment of making a gift that might not otherwise be possible.



For more information about planned giving or the Sumner-Bonney Lake Education Foundation in general, please contact us at or 253-260-4850.


Please consult your professional advisor for specific advice about your estate planning. 

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